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Frasers Centrepoint Trust achieves 99.7% portfolio occupancy in Q3

All of FCT’s malls each achieved over 99% occupancy.

Frasers Centrepoint Trust (FCT) reports a portfolio occupancy of 99.7% in Q3 2024, achieving more than 99% occupancy at every retail mall.

Portfolio shopper traffic and tenant sales for the period rose 4.1% and 0.7% year-on-year (YoY), respectively.

Tampines 1 achieved 100% occupancy after FCT’s asset enhancement initiative (AEI), which is set to be completed by September and is projected to exceed its ROI target by 8%.

In addition, suburban prime retail rents during the period increased 0.3% quarter-on-quarter (QoQ) and 2.6% YoY. The dip in new retail supply supported the recovery of overall prime retail rents.

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